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to congress. a year later in 2011, another fight emerged in congress over the treasury department's request to raise the debt limit. congress battled for months and the economy suffered, resulting in the u.s. losing its aaa credit rating for the first time in history. we were downgraded. what's next? and as part of a last-ditch compromise to avoid default, both sides agreed to $1 trillion in spending cuts and an additional $1.2 trillion in across-the-board cuts that would kick in at the beginning of 2013 unless a bipartisan super committee made up of politicians from both parties could come up with an agreement. that super committee failed, and of course, the country is now facing those self-imposed, massive cuts to defense spending and other programs. fed chair ben bernanke warned that if these cuts went through, and we're looking at a deadline that's 16 hours away, the country risked going over what he called a fiscal cliff. since the president's re-election, he and republicans have traded offers and counteroffers, finding little common ground on tax increases and cuts from entitlements.
the government will reach the limit on borrowing unless congress acts. not to mention the bill delays large cuts to the pentagon and other government programs. so in march we may see another round of fighting. president obama says he hopes congress can get a deal done with a little less drama. abc news, washington. >> not all law makers are satisfied with the new fiscal cliff idea. andy harris is one republican who voted against it. released a statement reading, ioppose the legislation increase being tax on 77% of my people in my district. harris goes onto say the bill is business as usual in washington doing nothing to deal with the 16.4 trillion dollar debt. >>> so when harris says it will raise taxes on 77% of americans he is talking about the end of the pay he roll tax holiday. basically what it means is the amount taken out of your paycheck for social security will go up 2%. for most americans that means we will pay a thousand dollars more in tax this is year than last. >>> this morning secretary of state hillary clinton is in the hospital recovering from a potentially serious blood clot. >
is with putting off sequestration. you're just kicking the can down the road, just another indication congress is broken. we already know this is the least productive congress in history. something like 219 bills passed, at least 40 ins consequential, things like renaming post offices. can you just keep putting things off? at some point don't you have to deal with spending? >> we have to deal with spending and let me tell you when you look at the pentagon for example we could cut at least a hundred billion dollars and not even tamper with our national security. there are many ways to address spending. i serve on the appropriations committee with congressman flake. i understand exactly where he is going with this. when you talk about spending, who has paid, first of all, there has been an unequal investment in the cuts already. defense has not taken any huge cuts. domestic programs have. and so, yes. we have to address spending. but you have to have all things being equal. so we have to take the time to do this. that's why i was very concerned last year when this whole debt ceiling debate took
against it. >> i'd like to be speaking for this bill, but i can't. >> reporter: congress steered away from the "fiscal cliff" at the last minute but another showdown is just around the corner. in two months, the treasury will need to increase how much the country can borrow and lawmakers must approve it. the last time congress fought over the debt ceiling, america's credit rating was downgraded. the president says that doesn't need to happen again. >> the one thing that i think hopefully in the new year we'll focus on is seeing if we can put a package like this together with a little bit less drama, a little less brinksmanship. >> reporter: the payroll tax holiday expired. that means less money in most people's paychecks. the bill did not address that. on capitol hill, i'm tara mergener for cbs 5. >>> and stocks shot up sharply this morning on the first day of trading in 2013 jumping more than 200 points at the open. it is wall street's biggest rally in six months. things are still looking good at this hour. they are up about 237 points. now, economists caution that this euphoria in the ma
like to be speaking for this bill but i can't. >> reporter: congress steered away from this fiscal cliff at the last minute, but another showdown is just around the corner. in two months the treasury will need to increase how much the country can borrow and lawmakers must approve it. the last time congress fought over the debt ceiling, america's credit rating was downgraded. the president says that doesn't need to happen again. >> the one thing i think that hopefully in the new year we'll focus on is seeing if we can put a package like this together with a little bit less drama, a little less brinksmanship. >> reporter: the president will be trying to reach a debt ceiling deal with a new congress. winners from the november election will be sworn in tomorrow. tara mergener for cbs news, capitol hill. >>> it is a small step to getting our fiscal problems in order, but only for a couple of months. the stopgap measure appears, however, to be having a positive effect on wall street. the dow above 200 points and both the nasdaq and s&p 500 are up. of course there is reaction from taxpay
another debate over this congress whether or not they should pay the bills they've already racked up. >> the bill as amended is passed. >> 89-8. that is absolutely historic. >> new year's eve produced by a bunch of sleep deprived doctrinenaraians. >> it reminds me of the jokes where someone stopped hitting you in the head with a hammer and you're supposed to say thank you. we created this monster. >> the yeas are 267. the nays are 167. >> so we have this totally dysfunctional senate. therefore a dysfunctional congress. >> it's not a violation. >> technically these are still tax cuts? >> correct. >> a hopefully the new year will focus on less drama, not scare the heck out of folks quite as much. >> let's get right to our panel here with me are krystal ball one of the hosts of msnbc's "the cycle" and jimmy williams an msnbc contributor. krystal, the fiscal cliff fight may be over but we heard many of them looking forward to a debt ceiling fight where medicare and taxes will be fought over. do these people not learn anything from 2011 when the credit worthiness of this nation was downgr
wwll noo be able to pay all oo theecountry's bills in full... and on time. congress would have to vote on raising thh debt ceiling... setting tteestage for another fight n capital hill. the new year brings violence in sacramento, california... where two eople were killed and three others injured. injured.40-thousand people gathered in old sacramento for gunfire erupted.officers rushhd to close-off the crime scene... and the midnight celeeration was cancelee.no worrdon what prompteddthe shooting... or a suspect. as we cllsed out 2012 in paltimore... nn nummer rings out... tte murder count.there were 216 homicides.... compared to 117 in all f was more violent in the city of baltimore.paul gessler has more on how community leaders pre reeembering the city's homicide victims. (reading names)aa balttmore prepares to ring in the neww year...(nnmes))ommuniiy &pleaders look back at the namms are read aloud.19.21.22 reading names "floyd dorsey, 59--that's my cousin-- michael williams, 45....victims of violencc... and part f thee city's growing homicide rate. commissioner nthony batts, ba
, could double. another bill languishing in congress is the emergency funding for states ravaged by superstorm sandy. the senate passed 60.4 billion in aid yesterday, but the house has yet to act. nine weeks after sandy hit, the need for help is immense. >> this is my house, this was my dream, you know, this was the american dream. >> reporter: when hurricanes or floods threaten pedro's house in the past, somehow it always survived. but as sandy belted sta ten island two months ago, correa knew right away this storm was different. >> i looked out the window and seen my car, it was moving. i said wow the win must be really ripping, and i looked closer and it was floating. >> reporter: he had already vaked his wife and two children. he and his brother were trying to save the house. sandy gave them no chance. >> out of the corner of my eye i see my neighbor's house floating, and it crashed into mine and knocked it off the foundation. >> reporter: they turned the dining room table into a raft to escape the house. when it broke they jumped to another house floating by and landed in a
of the 2013, and the u.s. will enter another recession, and yet congress can't get anything done >> there is a little bit of a cushion there. the i.r.s. didn't expect that we would get to this point. they thought congress would work something out, so it's not as if people's paychecks are going to see higher withholdings on january 1. it's going to take a few weeks for that to kick in. so if congress doesn't work out a deal by the deadline but can figure out something shortly thereafter, there is a chance that people won't see an increase. >> o'donnell: major garrett and nancy cordes, thank you so much. and we will be right back. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states. the
about the new brotherhood-backed constitution signed into law today. >> warner: and we have another of our conversations with retiring members of congress. paul solman sat down with the always outspoken massachusetts democrat barney frank. >> the notion that people would not go along with an important public policy because i hurt their feelings, i don't think that's true. >> ifill: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been provided by: >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: a major winter storm surged into the midwest and northeast, fouling flight schedules and ruining road conditions on this day after christmas. the huge weather system left a trail of destruction in the gulf coast region and at least six people dead. >> oh, wow, oh jesus, look at that tornado. >> ifill: the calm of christmas night was shattered by tornadoes dropping from
will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. >>> the budget deal boosts asian stocks in hong kong and australia hitting 19-month highs in the first trading session of the year. >>> european equities also share a deal out of washington despite more gloom from the eurozone. manufacturing has continued to contract according to the latest pmi. >>> okay. 2013, a warm welcome to viewers of "worldwide exchange." my special families to a family called the wards. thank you for hosting my family over the new year. personalities out of the way, eurozone, still looking glum despite the market reaction to the fiscal cliff deal this morning. to recap, the eurozone december following manufacturer pmi, 46.1, the flash was 46.3. the final output index, 46, weaker than the 46.1 flash, 46.1 in december. and the november number for orders 44.2. the eurozone in sort of the slowdown in the eurozone factory activity deepening in december. new orders falling. in spain it was worse, as well. let's
are will not have another debate with this congress over weather or not they should pay the bills that they have already racked up. through laws they have already passed. let me repeat. we cannot not pay bills that we have already incurred. congress refuses to give the united states government the ability to pay these bills on time. the consequences for the entire global economy will be catastrophic. far worse than the fiscal cliff. if you remember in 2011, the last time this course of march and was threatened, the entire recovery was put at risk. the super confidence plunged consumer confidence plunged. we cannot go down that path. today's agreement will chime in to the principle of the law as long as i am president. the deficit needs to be reduced with a more balanced budget. everybody pays their fair share everybody does their part. that is how or our economy works best. the son of a total of all the budget agreement's the we have reached so far proves that there is a payoff board. and it is possible if we focused not on our politics but on what is right for the country. the one thing that ho
another debate with this congress over whether or not they should pay the bills that they have already racked up through the laws that they've passed. let me repeat. we can't not pay bills that we've already incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic, far worse than the impact of a fiscal cliff. people will remember back in 2011 the last time this course of action was threatened, our entire recovery was put at risk. consumer confidence plunged, business investment plunged, growth dropped. we can't go down that path again. and today's agreement enshrines i think a principle into law that will remain in place as long as i am president. the deficit needs to be reduced in a way that's balanced. everyone pays their fair share. everyone does their part. that's how our economy works best. that's how we grow. the sum total of all the budget agreements we have reached so far proves that there is a path forward, that it is possible, if we focus not on our politics
. and now one last point i want to make while i will negotiate over many things. i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up through the laws that they have passed. let me repeat. we can't not pay the bills that we have already incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic. far worse than the impacts of the fiscal cliff. and people, they will remember back in 2011, the last time that this course of action was threatened, our entire recovery was put at risk, consumer confidence plunged, the business investment plunged and gross dropped. in today's agreement, they will remain in place as long as i am president. the deficit needs to be reduced in the way it is balanced as everyone needs to pay their fair share as everyone needs to pay their parts. that's how our economy works best. that's how we grow. the subtotal of all the budget agreements that we have reached so far proves th
no repeat. >> i will not have another debate with this congress on whether not we should pay the bills they have already racked up. >> the president thinks he is not going to negotiate, think again. he is not emperor of the planet. >> it might take a default, another downgrade. serious economic consequences to told us back to some kind of reality. that is a frightening prospect. >> of the congressional scholar says it could look like a tribal war appear. >> the agreement doesn't address all the fiscal problems, but they're coming together to avoid part of the economic turmoil. >> i really admire the republicans that came together with us so that we would not go into sequestration. >> the lesson i hope we have learned is that democrats and republicans need to come together much earlier in the process and do it in an earlier way. >> we are breaking down how the last minute deal has fallen into place. lower and middle income taxpayers are big winners, but there are also big losers. we have the details on the mobile application. >> and now, your forecast of the chief meteorologist. >> movi
has a stern warning for kopg. >> i had not have another he at the badebate with congress on whether she thud pay the bills on the debt they stacked up. >>> a packed two hours ahead. joined by steve israel. marsha blackburn, jen psaki, president obama's traveling press secretary, and diane swonk and connecticut attorney irving pinsky. >>> wednesday, january 2 know, starting point begins right now. > >>> our "starting point," what on earth just happened? financial markets up, but it took one fractured vote to make it happen. let's recap. late last night, the house of representatives passed the senate's fiscal cliff bill. the final tally, 257-167, and while 151 republicans voted no, it is worth noting its speaker, john boehner, voted yes, so did paul ryan, by the way. here is the deal that took over 500 days to seal. no tax hikes for couples earning less than $ 450,000 a year. itemized deductions, and unemployment benefits extended and alternative minimum tax adjusted for inflation. >> here is the deal. what the deal doesn't address is federal spending. drastic domestic and defense cut
. >> yeah. he says the bill passed by congress last night is mainly a ticket to another fight which we'll talk about, but how does all of this affect his investment decisions for 2013? wilbur joins us now. good to see you. welcome back, sir. >> good to be back, thank you. >> are you encouraged or dismayed by the bill passed last night? >> well, i'm encouraged in one sense in that at least the vast majority of american taxpayers will know what their rates will be, and there's not that much of an increase. for most people the increase will be basically the two percentage points on social security and a little witt higher limit, so from the average person's point of view, that's okay. the disappointing part is that it didn't really deal with spending. there's a ratio of $41 of tax increase to $1 of spending decrease. >> right. >> that's not kind of balance we need to fix the budget. >> wilbur, though -- >> we have to wait and hope. >> the fiscal cliff wasn't about the deficit. it wasn't about the debt. it was actually about stabilizing gdp. i mean, that's the cliff, that's about making su
're spending our way into oblivion. >> while i will negotiate over many things, i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up. >> joining me live, democratic congresswoman chair of the democratic national committee and member of the budget committee. thanks for being on the show. >> thanks for having me. >> you hear president obama say he's not going to negotiate on the debt limit. you heard lindsay graham say there save it for the debt battle. how far are they willing to go to prevent any debt accruing on that number. what gives you confidence the president will not net on this and what can he do to avoid negotiating on this? >> i think inwho has observed president obama over making sure that we could have a balanced approach to beginning deficit reduction has seen what's on the table and his willingness to compromise and what he's not willing to compromise on. let's look at what the republicans are using as a leverage point, no less than the full faith and credit of the united states. we got a good window in wha
ready for another fiscal debate in the coming months. congress and the white house will talk about the debt ceiling. we could reach the limit by the end of february. and won't likely agree to raising it without guarantees of spending cuts. despite this bill, you may notice your paycheck is a little smaller this year. that's because a temporary cut in a payroll tax just expired. the social security payroll tax jumps back to 6.2% for 160 million americans. it's been 4.2%. some banks say that could cut consumer spending by as much as $100 billion this year. that's less than the 115 to $125 billion in revenue it costs the government each year. >>> after the vote overseas markets jumped. cnbc's hampton pearce here to talk about. >> stocks poised to kick off the new year on a high note. futures are sharply higher. investors are reacting to that house vote on the bill last night to avoid the fiscal cliff. asian markets were higher overnight. traders say the rally could be short-lived as the next big battle in washington looms in a few months over raising the debt ceiling or the nation's b
attached. >> while i will negotiate over many things, i will not have another debate with this congress over whether or not they should pay the bills that they've already wracked up through the laws they passed. let me repeat, we can't not pay bills that we've already incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic. adam: president doesn't want another debate, having another debate, this from the house speaker boehner after the bill passed, and now the focus is spending. that he re-elected a republican majority in the house, using it in 2013 to hold the president accountable for the balanced approach promised, meaning significant spending cuts and reforms to the entitlement programs driving our country deeper and deeper into debt. just earlier today, the speaker's office confirmed any amount of cuts, any amount of increase to the debt ceiling has to be accompanied by cuts that exceed the amount the debt ceiling has been raised. back to you. adam: rich, american
will not have another debate with this congress over whether or not they should pay the bills that they have already racked up through the laws that they passed. let me repeat, we can't not pay bills that we have already incurred. >> the president a big winner on taxes. house republicans have the stomach for another fiscal fight . moron guns than a new viral video exposing the celluloid the rules for what they are. participants in a culture of hollywood hypocrisy. it turns out the idea of armed guards and police and schools is a pretty good idea after all. no security problems in the "herald" district's school in texas. their teachers carry firearms. she's still the one for you - you know it even after all these years. but your erectile sfunction you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treaed and symptoms of bph, like needingo go frequently or urgently. tell yr doctor about all your medic cond
in march we may see another round of fighting. president obama says he hopes congress can reach an agreement with a little less drama. >> katie: what are the chances that republicans go along with raising the debt ceiling? >> we've seen there fight before. republicans will probably have to go along with it because the country will reach its borrowing limit, but republicans see it as bargaining tool. they wanted deeper spending cuts and deficit reduction and probably end up getting it. >> katie: thank you. today one of suspects in a murder of former winery owner at his mansion will be in court, 21-year-old javier garcia will be arraigned and 23-year-old man should be in court and lou cast anderson was already arraigned and one other was booked as an accessory in the death of his mansion during a home invasion in november. our media partner says they portray him as a ruthless businessman accused of hiding millions of dollars of assets from creditors. >>> dramatic new video of the arrest of the driver that killed two people while running from police in san francisco. police approac
that they need. republicans in congress are saying they're not getting another dime. to me, the most important thing that happened on high-speed rail this year was not the legislature approving the first slug of money this summer, but it was the realization that the billions of dollars that are going to be generated by california's global warming auctions under the ab-32 plant, that money can be spent on high-speed rail because there is a nexus between reducing greenhouse gas emissions and the train. and so, that is the backstop, that's the insurance policy that they have, and it could be tens of billions of dollars that are going to go from ab-32 to fund that when they're not getting any more money from washington or the public sector. >> what's missing in terms of the public awareness that, you know, that emissions are problematic and that maybe something like high-speed rail is an investment? >> a couple of years ago, 50% of the public believed in global warming. it's now 70%. >> well, we have just a couple minutes left and i wanted to leave some time for predictions. you were like noter da
is in the seekers. i prefer the seekers. anyway, ellington is up for library of congress. there's another guy affair, a real wizard. and reagan's staff wanted that guy. so i'm sitting next to ronald reagan. by really about the guy. i'm in his diary a lot of tell you. i said i think you want to think of this guy, billington. he said why would that be? i said he hates commies. [laughter] and i said not only that, he knows russian fluently. he can tell just exactly what they're saying. he said really? three days later -- [laughter] [applause] great story. and a john dingell, where's that rascal? pni -- i know, but i can't stop. [laughter] but dingell and i used them in a conference committee said he would say, look, we are going to get this done and i said who are you going to before the 10 days is over? he named a guy. he said what i should do something with the staff of the committee in the senate? is that i can't come if they are tougher than i am. but then we got together and beat them two days. chuck robb and i were on the iraq study group. both have been? the word compromise now means you are a w
need to do -- rebuild now. we need to act now. we can't wait for the next congress or another couple weeks or another couple months. what i don't understand, mr. speaker, is how is it possible that this has become a political issue? it is clear that we are here today, we can vote on this. the votes are clearly there. we should have an open debate. that's what democracy is all about. and all of a sudden because the tea party or some conservative element is worried that they have to vote on another spending bill, all of a sudden the speaker says we can't do this today. this is politicizing a situation that should not be political. and it is another example of what i call the do-nothing congress. this congress did very little. it has fewer bills passed in anybody's memory. rather than go out on this negative note about not bringing up an emergency because of the hurricane, one of the devastating natural disasters, why not do something positive on a bipartisan basis, mr. speaker, bring this up. let us have an open debate. we are still here. and don't let this congress die on this negativ
has become like an episode of the road runner cartoon. every congress is another cliff. they have a responsibility to produce the votes. they have yet another caucus. we should have done this a year ago, should have done it a month ago, could have done it two weeks ago. they need to come to the table and work with us. >> i came from downstairs where the house republicans are still meeting as we speak, i believe. and it sounds like still going on, behind closed doors, but it sounds like there are a lot of complaints that this deal is just dealing with taxes and they really want to include spending cuts. and perhaps they haven't decided what they're going to do, perhaps house republicans might agree to offer an amendment to this. that adds spending cuts. do you think that's a deal killer? >> we have done spending cuts. we did a trillion dollars in spending cuts in the budget control act last year the. there are spending cuts. there are cuts in this. sequestration is late for two months but paid for with a mix of revenues and additional spending cuts. there are spending cuts in this.
that makes his legs immobile. >> congress cutting it close to avid the fiscal cliff. nation back into another recession, today, name calling picked up. boehner for letting lawmaker goes on vacation. house members not due back ununtil sunday. that is two days before the tax increases take affect. boehner is putting the ball in the court and says the house will take action on whatever the senate can pass. the president has spoken to senate and house leaders from both parties but had no plans to meet with congressional leaders tonight or tomorrow. >> three people have filed a federal lawsuit against city of san francisco arks kusing the police department of conducting illegal searches. this occurred at the henry hotel. saying police officers entered room was a master key provided by the hotel, then, began searching through personal belongings without warrants or just cause. thist@2p is camera footage of te searches by public defender last year. the suit filed by civil rights attorney john buress naming four officers. >> a slew of new laws set to hit the books january 1 from new rules on the road
billion have been delayed for two months which means there will be another round of haggling at the beginning of march. the u.s. government will hit what is known as the debt ceiling, the limit for borrowing and only congress can raise it. for americans braving the january chill, frustration with politicians and resignation that they will soon have to go through all over again. >> i think it is ridiculous, i think the congress should be doing their job, not waiting until the last minute. >> it is not over with yet. they have another couple of months to debate things. once they figure it out, they will come to a decision which we hope will be the best interest of the country. >> this extraordinary new year's drama has played out as barack obama prefers for his second term. a second term in which you would like to achieve big things on immigration reform, climate change, and gun control. it is clear with a bitterly divided congress come none of it will come easily. >> for more reaction from capitol hill i spoke a short time ago with republican congresswoman marcia blackburn of
's bills in the full on time. congress must vote to raise the debt ceiling setting the stage for another showdown coming on capitol hill. >>> couples have been waiting a lifetime for the day and today same sex couples can legally marry in the state of maryland. it was approved by voters back in november. and this morning, sherrie johnson is live at city hall where some couples have come out to tie the knot and they did it after the stroke of midnight. >> reporter: a big day here. we are in front of city hall war number of people 7 couples to be exact tied the knot here at city hall in downtown baltimore a landmark day for maryland. baltimore city mayor stephanie rawlings blake actually hosted some of the first marriages for same sex couples in the state of maryland. she actually performed the first ceremony of the morning. the couples brought friends and family to take part in the historic ceremony new year's day will have a new meaning for many couples who can finally have the right to marry the person they love. same sex couples were able to get a license in december and today they wer
's debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up. >>> wall street is ready to rally this morning after the late-night budget breakthrough in washington. >>> asian markets got a big boost over news of the agramt. >>> horng congress's hang seng gained nearly 3%. >>> sandy hook elementary students are about to head back to class three weeks after a shooting. classes return to a repurposed school. >>> an open house is set for today. >>> a shell oil rig has run aground off the coast of alaska. >>> no oil is leaking. all members have been evacuated. >>> they captured photos of justin bean 'eers car. >> but he wasn't driving, and he wasn't in the car at all. >>> what a hit! >> he says i'll take care of business. >>> all that -- >> a soldier's surprise homecoming at the rose parade in california. >> oh, that's beautiful. >> makes me cry. >>> -- and all that matters. >> members of congress are for russ after the house went home without voegt on a leaf bill for victims of hurricane sandy. >> absolutely
borrow, unless congress raises the so-called debt ceiling. an automatic, across-the-board cuts to the pentagon and other agencies, are only to be delayed for two months, setting up another from fiscal cliff on march 1st. congress has adjourned. and late last night, after midnight, the president left for hawaii to meet with his family. and hopefully, he thinks for a few days' vacation. >> you mentioned the breathing per feelings got raw at the last minute. >> reporter: it got really nasty. politico first reported on friday when the congressional leaders met here at the white house, speaker of the house john boehner told the democratic leader, harry reid, off, use uhhing language i can't use here on "good morning america." >> you can't even paraphrase. >>> let's look at what the deal means to you at home. lots of paycheck changes right now. and bianna golodryga is at the smart screen to break it down. about 99% of americans protected from an increase. but most workers will take a hit. >> payroll taxes going up. this affects everyone making $110,000 or less. so, this year, anyone
cuts of more than $100 billion have been delayed for two months which means there will be another round of haggling at the beginning of march. the u.s. government will hit what is known as the debt ceiling, the limit for borrowing and only congress can raise it. for americans braving the january chill, frustration with politicians and resignation that they will soon have to go through all over again. >> i think it is ridiculous, i think the congress should be doing their job, not waiting until the last minute. >> it is not over with yet. they have another couple of months to debate things. once they figure it out, they will come to a decision which we hope will be the best interest of the country. >> this extraordinary new year's drama has played out as barack obama prefers for his second term. a second term in which you would like to achieve big things on immigration reform, climate change, and gun control. it is clear with a bitterly divided congress come none of it will come easily. >> for more reaction from capitol hill i spoke a short time ago with republican congresswoman marcia b
many things, i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up. >>> plus, hillary watch, just a short time ago, an suv carrying former president bill clinton left from an underground garage at a new york hospital where his wife, hillary, is still being treated for that blood clot in her head. good day, happy new year, i'm andrea mitchell live in washington. president obama arrived in washington today after a victory on the future of tax rates for all americans, but the fiscal cliff has set the stage for still future debt ceiling debacles to come. joining me now for our daily fix in the new year, chris cillizza and our correspondents on the hill, kelly o'donnell from the capitol and luke russert right here on the set. thank you all very much. first you, kelly, the late-night deal that averted the fiscal cliff left a lot of things still to come. what's the next fight? >> reporter: well, in addition to everyone's body clock being a little off, they have to gear up -- it's so true. they have to now begin loo
. watch this. >> i will not have another debate with this congress over whether or not they should pay the bills they've already racked up through the laws that they passed. let me repeat. we can't not pay bills that we've already incured. >> sounds like he's pretty strong and stern on that. what dooungs, governor? >> he is and he ought to be. the last time, it was an international disgrace, not just a national disgrace, but an international disgrace. we shouldn't play politics with that. we owe this money. we've got to pay it. we've got o to have the funds to pay it. i think the sequester comes up in two months, probably a week or two before the debt ceiling. we're going to have to have some resolution of the broader problem. what the president should do when he gets back from hawaii, call the congress and the congressional leaders and let's get to work on the grand bargain. the big deal. and the big deal is going to require, as chairman cleaver said, more compromise. on everyone's behalf. on the president's behalf and on the republicans behalf. progressives have to understand that an
spending. while i will negotiate over many things, i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up through the laws that the past. let me repeat. we cannot not pay bills that we have already incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic, far worse than the impact of the fiscal cliff. people remember back in 2011, the last time this course of action was threatened, the entire recovery was put at risk. consumer confidence plunged. business investment plunged, growth crop. we cannot go down that path again. today's agreement enshrined the principle of the law that will remain in place as long as i'm president. the deficit needs to be reduced in a way that is balanced. everyone pays their fair share and does their fair part. that is how the economy works best. that is how we grow. the sum total of all the budget agreement we reached so far proves there is a path forward, that it is pos
. >> while i will negotiate over many things, i will not have another debate with this congress over whether or not they should pay the pill bills they have already racked up through the laws they passed. >> reporter: the president said with those upcoming to base he hopes for less drama and congress went scare americans like they dead. >> we do have more on the fiscal cliff vote on our website just log on to ktvu.com. >>> tomorrow new members of he defeated long-time damage mop pete stark. he is getting the key to his new office on capitol hill this morning. >>> the man accused of starting a fire is due in court today to enter a plea. he is tomorrow -- and a fire taylor chapel in july. he's being held on $250,000 bail at the solano county jail. >>> time now 6:18. let's head over to sal who is taking a look at how things are looking in contra costa county. >> that is right claudine and dave. highway 4 we will start there. look at the traffic coming over the willow pass grade. a little bit of slow traffic in the antioch. it is a little lighter than usual but people are going back to work on t
that congress has to deal with yet another bruising debt ceiling battle. >> all right. thank you. >>> why do you think lawmaker waited until last minute? there is a lot of questions surrounding that. we are getting a lot of feedback on our facebook page. >> william have bad hotwood says it was to, quote, act like they are doing something for their already overrated salaries. they do this almost every year. we need to force them to change the way they work us for. share your commends our facebook page. >>> still ahead this new year's morning. >> so, a deal has been reached mentioned in the senate. that doesn't mean the tension is gone. we'll take a look at what new year's resolution lawmakers may want to consider when we come back. (woman) 3 days of walking to give a break cancer survivor a lifetime-- that's definitely a fair trade. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful (woman) why walk 60 miles in the boldest breast cancer event in history? because your efforts help komen serve millions of women and men facing breast cancer every year. visit the3day.org to regi
by president obama's remarks last night. >> we will not have another debate with this congress over whether or not they should be the bills that they have already rack up. >> if the president thinks he 'not going to negotiate, he better thing again. >> john boehner signaled a return to a hard line on spending by delays a vote on aid to the victims of hurricane sandy. several members of his own party immediately and loudly blasted him this afternoon, including new jersey governor chris christie. the speaker has now scheduled a vote for friday and a second vote on january 15th. >>> and the speaker has just responded to that criticism through a spokesman this evening. nbc news correspondent mike viqueira is nbc's washington bureau right now. mike, how much support does the speaker have right now to stay in that position? >> you know, jim, that's a great question. there's been a lot of speculation over the last couple days. after all that turmoil yesterday, where there was a back and forth, a question whether house republicans would go along with the overwhelming bipartisan vote, there were rep
two years ago. then we'll probably go another round in the fall when congress goes head to head over the 2014 budget and the same issues could come to the floor. this is not to mention the democrats and republicans still have to come up with some sort of deal on sequestration. the current congress kicked the can down the road on budget cuts during the last round of discussions on the fiscal cliff. now it's up to the new congress to come up with a grand bargain or find another creative way to kick the can down the road yet again. get ready for it. it's going to be a bumpy ride. >> seems like we go debt ceiling and then all these other ancillary kinds of things. you still can't tell what your paycheck is going to look like. every time you clear one hurdle, okay, now what? >> we keep having the same fights over and over again. we've got the fiscal cliff. we've got the budget. we've got sequestration. it's all part of the same problem. the problem is we have too much debt, a lot of revenue. we're taking a lot of revenue from taxpayers. so they demand more because our spending is up. the
it in a balanced way. even as we get a handle on our spending. i will not have another debate with this congress over whether or not they should pay the bills that they have wrapped up through the laws they pass. we cannot pay bills we have already incurred. the consequences would be catastrophic. borrowers from a fiscal cliff we can't go down that path again. today's agreement enshrined the principle in the law that will remain in place as long as i am president. the deficit needs to be reduced in a way that is balanced. everybody pays their fair share. everyone does their part. that is how our economy works best. that is how we grow. the total of all the budget agreements, we have reached so far, proves that there is a path forward, but it is possible, if we focus on the politics -- one on what is right for the country. the one thing that i think that hopefully the new year will focus on is being if we can put a package like this together with a little bit less drama. little less brinksmanssip. not scare the heck out of folks quite as much. we can come together as democrats and republicans to
will negotiate over many things, i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up. >> nbc's kelly o'donnell is live on capitol hill. and nbc's mike viqueira joins us from the white house. kelly, let's start with you. you look remarkably well for what i can only mablg has been a rough last couple of days. >> oh, you're kind, chris, thank you. >> we rolled out kind of a basic nuts and bolts of the deal. give me a sense on what the mood is, how people are feeling? do people feel republicans won, democrats won? is there a winner in something like this? who got what they wanted and who didn't? >> reporter: well, if you can look past the exhaustion and the over-caffeinated atmosphere that everyone has hear, i think you do see that most people will say that the president gets a victory on this and that democrats have plenty that they are happy about in the package, and that republicans are, in fact, sort of reorganizing for what they believe will be greater leverage in the weeks to come. a signal from the p
worrers.but after that... the &ptreesury will not be able to in full... and on timm.s bills congress would have toovote n raising the debt ceiliig... setting the stage for another fight n capital hill. even though gas prices nevee went higherrthan they did back in 2008... gas prices.. onn aveeage... forr2212 were the ever.the naaionwide average prices for a gallon of regular pit 3-60 this yyar... hat's up 9 cents frommthe previouss record set in 2011.triple- a blames hurricanes.. refinery outages and tensions in the prices.despite prices of more than 4 dollars a gallon back in 2008... the average price that year as juut 3-25. aanew studd shows size... shape... and color of a pill directlyyinfluences wwether patients will take the some pptients who received gennric drugs varying in color were more than 50-percent likely to stop takkng them. generrccdrugssmust have tte same dosage strength as the brand-name verssons, despite how differenttthey may look. of the pill, but what's inside that counts. baltimore rings in the new year... ii syle... anddin safe. safety.bmore fireworks nats na
the duplicity we saw on display last night. america deserves bert than just another example of a government that has forgotten who they're there to serve and why. 66 days and counting. shame on you. shame on congress. disaster relief was something that you didn't play games with. but now in the current atmosphere, everything is the subject of one ups man ship. everything is a possibility, a potential piece of bait for the political game and it's just -- it is why the american people hate congress. >> republican congressman peter king of new york said that john boehner's action was like a knife in the back and had threatened not to vote for him for speaker again. >> what was most galling about this is that within ten days of katrina, we gladly voted $60 billion and went over 100 billion ultimately. it's now nine weeks since sandy struck long island and new york, new jersey and we have not gotten a penny from the united states congress and we play by the rules. >> new jersey and new york were among the hardest hit by sandy. the hardest hit and of course, they are states to send the lot more t
week. >> our american family is about to go over the dairy cliff . congress must have a farm bill by the end of the year. an old law would kick in to force the government to buy milk at another price. how painful will it get for us in the grocery store? >> it tells us how insane. the sound of the cows tell you what will hpen. this is based on marketing act. it is a consequence . we have a bureaucracy that is based on this . the federal government an act in 1942. the supreme court in which a guy growing gra on his own farm can feed himself and his own cattle was told b the supreme court he could not do this because it is it in violation . act it is it about milk and 1949 and the federal government is going to go and make a mark a make a fair market o this . we'll buy it at eight dollars a gallon. >> and it is johnathon. that milk your drinking is about to do you believedouble in price. >> forget the cookies. >> that's the problem and the farm bill is the problem. government should center zero role in milk agriculture production. it is it so long las that interventi is the probl and
nearly da today. so, todd, it looks like another long night for you and the other members of the press, members of the house, of the congress. where does everything stand right now? >> well, judy, house republicans met about an hour, hour-and-a-half ago. they just had been on the house floor. now that vote was not notable except it was a whip session. here's what house republican leaders have told their rank-and-file. we have two choices for you. choice one is to amend this bill. they've got a package ready to go of spending cuts. 's about $330 billion over ten years. the house has already passed it. it's a sequester replacement bill. it cuts food stamps, federal pensions. it cuts some other domestic spending. it gets rid defense cuts. we can pass that and attach it to the senate deal and send it back to the senate. they've also been warned, you can do that if you want to. if you do that, it probably kills this deal. harry reid, his aide senate democrats have been adamant. they're not going to touch an amended version of this deal that was brored between republican leader and the vice
in another partisan stalemate. but over in the capitol the lower house of congress remains dark to avert the fiscal cliff. it's republican leader will call the session on sunday. the top senate said his branch of congress must take the initiative on a compromise. >> it appears to me the action if there is any is now on the senate and we will have to see if we're able on a bipartisan to move forward. >> but the democrats say there can be no deal without republican concessions on tax increases. >> unless we get a sign-off from the republicans in the house, we can't get anything done. for them to talk about a bipartisan arrangement, we have done that. >> without a deal, the mediate effect would billion a tax hike. relief checks to $2 million -- 2 million onamericans would also cut, possibly triggers another major u.s. recession. >> things that you don't really need, you're not going to get. >> it will probably affect my finances in a huge way. >> it will affect my dad. my dad's 76 and he's already got his food stamps cut and his medicaid cut. i don't know how much more than can cut. >> half
. in february, congress will have to decide on raising the country's borrowing limit. another hot button issue, the payroll tax. this is the money you pay towards social security. the rate will go back up to 6.2% up from 4.2%. that means the average household earning $50,000 a year will see $1,000 less in their paychecks each year. and $110,000 a year they will see $2200 less each year. that could trigger a slower growth period for the u.s. economy. >> for more on the back and forth that led to the final compromise and what's in store for the next congress, we turn to democrat strategist peter fenn. good to see you. and republican strategist jordan liebermann. happy new year to you. let's start with where we are today. peter, let me ask you what kind of fight was this in the wee hours to get this thing passed? >> it's a pretty tough fight allison and a lot of people thought once erik canter said he was opposed to it that they had this old haster rule, chris referred to it earlier. i'm not going to bring stuff up unless i have a majority of my caucus supporting it. if he'd stuck to that this wo
another option. which is to do nothing or vote the bill down and let the 113th congress fight this out. democrats are already walking around the hill judy, making it clear that the entire deal is off. of course, constitutionally the bill has to be rewritten after thursday. afternoon on thursday. but the deal is off. the tax rates will be different. everything will be different at that point. >> woodruff: todd, why aren't republicans more concerned about what we heard just now from a democratic member of congress from tennessee? and that is what the stock market reaction is going to be. how the economy is going to react if this agreement is not reached tonight? >> well, they may be concerned about it. i don't think it's fair to say that they're not concerned about it at all. many people have memories of the tarp debate from a couple of years ago. keep in mind house republicans voted down that emergency deal too. only to see the market tank, as i recall, 777 points and then come back and pass the deal. a lot of people remember that. the republican whip kevin mccarthy, however walking int
set stage for another capitol hill battle as congress must vote to raise the debt ceiling. >> new this morning, gay marriage ceremonies are under way in maryland. same-sex couples have been able to get marriage licenses in the free state for about three weeks but the new law didn't go into effect until the strike of midnight in the new year. dozens of same-sex weddings are scheduled for today including some at city hall in baltimore and a mass wedding event at the black walnut point inn on tillman island. >>> maryland is also banning arsenic in chicken feed and allowing parents to freeze their child appear credit in an effort to prevent identity theft. in virginia, it will be harder for state and local governments to take property in the name of eminent domain. and insurance agents will now have to perform property owners if their policy excludes coverage for earthquake damage. >>> let's talk football. the redskins are still the talk of the town. >> the excitement over their first division tight until 13 years is overwhelming. tickets for sunday's game are all sold out through the
increases to tack effect on january 1st and then on the third when the new congress is sworn in, lawmakers can vote to cut taxes. >> the new year brings another deadline for homeowners. december 3rd 1 the last day toa play for the homestead tax credit. the credit is supposed to put a limit on an increase in property taxes if the home's assessment value jumps but it's only supposed to go for a primary residence. its going into effect to eliminate the credit for people who shouldn't be getting it. >> we have plenty ofen eligible properties getting credits they aren't entitled to. in 2007 the general assembly passed another bill requiring a one time application. >> the law was passed in 2007 but it's going into effect now after a five year grace period. if you are eligible you should have received two notices already but there is still time to fill out the application. >>> now if you just log onto the website, click on the homestead tax credit story in the featured story section. there we have a link to the state site where you can find out if you need to file that application. >>> despite
hours ago in a live report from capitol hill. >>> while the fiscal cliff drama is over for now, another battle lies ahead. what the new congress faces in the months ahead. fox 5 morning news continues right now. >>> straight up 6:00 right now. here is a live look outside. we'll take a live look at the u.s. capitol dome where lots of wheeling and dealing has been going on, finally a compromise reached on the fiscal cliff deal, but, of course, our troubles are far from over. we'll be continuing to follow that story coming up. >>> good morning, everyone, it is wednesday, january 2nd, 2013. i'm sarah simmons. >> i'm wisdom martin. let's get right over to what's happening outside in the weather world. and for that we say hello once again to tucker barnes. >> hi. >> good morning. >> good morning. >> everybody headed back to work and school, at least parts of the area. >> get the seat warmers going. >> get the seat warmers going. 30s to start your day. here's a big change from yesterday. we'll have more sunshine than we've seen in the last couple of days. so it should be fairly nice looking
over many things, i will not have another debate with this congress over whether or not they should pay the bills that they've already wracked up through the laws that they passed. let me repeat, we can't not pay bills that we've already incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic, far worse than the impact of a fiscal cliff. people will remember back in 2011 the last time this course of action was threatened, our entire recovery was put at risk, consumer confidence plunged, business investment plunged, the growth dropped. we can't go down that path again. >> while the president says that he won't negotiate, there is another battle brewing in washington, it's been tweeted the gop and its far right tea party members, republicans breaking ranks with their house majority leader eric cantor to vote for a plan, 85 house republicans voted for the deal, 151 republicans voted against the deal, including cantor, and that didn't sit well with the tea party. amy kreme
another round of fighting. president obama says he hopes congress can strike a deal with a little less drama. >>> some dramatic temperature readings this morning. are you feeling it? we are in the mid 20s. >> it's very dramatic to me. >> what is going on. >> good morning. as we get down to 28 in livermore and 29 in fairfield. and 27 in santa rosa. it's colder and that is what we're talking about. 30 in concord and napa and freezing in redwood city and getting close in mountain view and san jose at 34. 36 at antioch. 34 at san rafael. low 40s east bayshore. mid 40s around san francisco. 44 at half moon bay. we do have a small slight wind so it does feel about one to three degrees cooler in some areas when you are outside this morning. let's talk about the chilled sunshine. it will joined with a few high clouds, upper 40s for lunchtime temperatures. low to mid 50s as we head through the afternoon and back in the upper 30s to mid 40s by 7:00. partly cloudy and frost tomorrow morning and then mid to upper 50s. mid-60s on friday and pull back of temperatures and few more clouds on saturday.
to use the money? >> senator, we heard president obama say in an interview that if congress can't get anything done and we go over the fiscal cliff, that plan "d" essentially is to have another vote on january 4th when the new congress comes in, and that would just be a straight up or down vote on extending tax cuts for middle class families making up to $250,000 a year. do you think that's what happens? >> i'm hoping that we resolve this today to give the american people some certainty. the president doesn't seem too eager to actually get involved and find solutions to deal with the number one problem facing our country. if you do what the president just proposed and raise taxes on those folks, it helps fund the government for seven days. it doesn't deal with our fundamental spending problem in this country. bottom line is the president is the only one with a pen who can sign into law something and he ought to be very involved with making sure that he gets something that he will sign that will pass both a republican controlled house and a democrat controlled
. one fight down is another taken up. the president and congress have set the stage for what could be the next fiscal cliff. nearly 24 hours after the new year deadline, but before a real world crisis set in, congress finally acted. >> the nays are 167. the motion is adopted. >> reporter: to cut some taxes permanently and delay for just two months severe military and federal spending cuts. that gave president obama reason to make a rare late-night stop in the briefing room. >> under this law, more than 98% of americans and 97% of small businesses will not see their income taxes go up. >> reporter: the president quickly turned from thanking congress to calling them out over raising the country's borrowing limit, the debt ceiling, necessary within weeks. >> while i will negotiate over many things, i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up. >> reporter: many in both parties remain frustrated that the fiscal cliff deal does not cut the deficit. >> i severely regret that this is not a big, bold, balance
tomorrow. and economists believe that we will plunge into another recession. danielle nottingham has more from the white house. >> reporter: members of congress arrived at the capital to work on new year's eve to try to avoid massive tax increases and spending cuts from taking effect in just hours. >> there are a number of issues on which the two sides are still apart. but negotiations are continuing as i speak. >> reporter: sources say both sides are starting to pro mize on which families will keep bush era tax cuts. the president wand families making more than $250,000 to start paying more. democrats are reportedly negotiating to raise that limit. >> let's get this thing done. tonight when the ball drops, let's make sure we haven't also dropped the ball. >> i'm sorry that we are here, on new year's eve, and that we haven't solved this problem long ago. >> reporter: most of the negotiations have been happening behind closed doors. but lawmakers called on the white house. >> senate minority leader mitchell's fish market mcconnell began talking directly with joe biden. >> it seems like the
if congress refuses to raise the debt ceiling the consequences for the global economy would be catastrophic far worse than any fiscal cliff. >>> another high profile vote could come towed. this morning president obama told house republicans they should vote now on hurricane sandy aid, quote, without delay. this has new york lawmakers chastised house republicans for deciding to put the vote off for a few months. people in the region are still trying to recover with the worst winter months still ahead. the senate approved a $60 billion measure friday while a house committee drafted a bill about half that size. >>> students from sandy hook elementary got a sneak peek at the campus where they will go back to school tomorrow. an open house was held this morning at a school in nearby monroe. they have refurbished it and making the classrooms look just like those in sandy hooks. they brought in desks and backpacks to make the kids feel at home. >> prince william had to go away from his family for. she is back in the picture of courage. first time on tv since bei >>> while most of world celebrated
but congress got a deal to save is from the fiscal cliff so everything is great now, right? no. another cliff is coming just two months from now. congress will have to act to raise the debt ceiling. lou dobbs is here now to weigh in. -- raise the debt ceiling. >> i have to say i'm just relegating to all this the same trash heap that originated mayan apocalypse as well as the fiscal cliff. i'm not paying attention to their bull anymore. melissa: no. >> it gets kind of funny when you think about it, democrats save us from the republicans, republicans are saving us from the democrats. taxes just about everybody going up 2% because of the end of the payroll tax holiday. and the president is going to just talk about he nailed those rich son of a guns. melissa: yeah, good for him. >> meanwhile everybody's taking it in the ear is the expression goes i suppose. lori: it is just mind-boggling just how everything kind of came down over the new year's holiday and now, we got that deal, but, it's reich, it accomplished so little and it is debatable i understand, but there are still so many -- >> there is
i will negotiate over many things, i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up through the laws that they passed. >> now white house officials says the president is firmer about that because he believesat kreiger a year and a half ago scared the markets, scared consumers and had a big bad impact on the chief, john. >> don't republics say that the debt ceiling is the only tool they have to get the president to cut more spending. >> that's right. they are basically saying look at a time when we have $16 trillion in debt. we have to have this debate. and republicans like richard shelby said today that the real problem with this deal from last night is that it doesn't cut any spending. take a listen. >> this will be part of his legacy. the failure to step up and do the big thing when he could, he could have brought leadership to the table. he didn't. now he is wanting to talk about cutting spending, it's kind of a joke. >> now, this is why there is a lot of republicans like richard shelby who are upse
dysfunction in washington, particular dysfunction in the republican house congress at the moment. but that's another issue we'll discuss. let me bring annie lowry into this discussion. senior economic policy reporter at "the new york times." the debt ceiling, the fiscal cliff. we keep trying to solve storms of our own making. nothing being discussed this weekend as steven just made clear. any closer to solving our long-term issues? what we are in at the moment, the reason you are on tv with me right now is this is crisis management that washington is in right now. it doesn't make any sense. >> yeah. it doesn't. and i think that if you look even a month or two ago, folks were talking about starting a tax reform, clean up the code, freeing up money to invest in things like education. nobody's talking about that anymore. you know, right now they're really struggling to figure out what to do with the tax cuts. and, you know, they're not even talking about the sequester very much anymore, which would -- you know, the tax cuts, they would hurt immediately. and everybody's taxes are going up next
to say. >> while i will negotiate over many things, i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up through the laws that they passed. let me repeat. we can't not pay bills that we've already incurred. >> what leverage does the white house have left if they've already now played the card on the precipice of the fiscal cliff with the election result at their back. why now going forward would they have the leverage to entertain some type of a grand bargain or to not have to negotiate over the fiscal -- the debt ceiling limitation. >> the answer is none, michael. when i heard the president said that, i thought good luck with that. >> right. >> the one thing that this republican-dominated congress has proven over the last four years that it can do is nothing. but we had two points of leverage. they had to deal with the sequester and they had to deal with things like the estate tax and upper -- and taxes on the wealthiest. so we gave away those two face cards, if you will. i don't think we got anything in retu
will not have another debate with this congress over whether or not they should pay the bills they vardy racked up through the last of the past. that may repeat. we can't not pay bills that we vardy incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic, far worse than the impact of a fiscal cliff. people will remember back in 2011, the last time this course of action was threatened, our entire recovery was put at risk. consumer confidence plunged, business investment plunged, growth dropped. we can't go down that path again. today's agreement enshrined the principle unto god that we remaining places on the long as i am president. the deficit needs to be reduced in a way that's balanced. everyone pays their fair share. everyone does their part. that's how our economy works best. that's how we grow. the sum total of budget agreements we've reached so far proves that there is a path forward, that it is possible if we focus not on our politics, but on what is right for the count
and republicans. >> now, despite the agreement, another battle is looming. in february congress will have to decide on raising the country's borrowing limit. >>> and after days of dealing with fiscal cliff negotiations, president obama is on his way back to hawaii to finish his vacation. the president left late last night. the obamas began their annual end-of-the-year vacation on december 21st, but mr. prom was forced to return to the white house last week for fiscal cliff talks. the obama family returns to the white house this coming weekend. >>> the fiscal cliff compromise is being hailed as a victory for middle class families too, but you'll still take home less pay this year. the payroll tax which is the amount taken out to go to social security will return to $6. -- 6.2%. for the past two years it had been lowered to 4.2%. for an average family making $50,000 a year, this means you'll be taking home about $1,000 less this year. we're also talking about this on our facebook fan page right now. with about $1,000 less to work with this year, do you plan on changing your budget? we've
the new congress takes over. danielle leigh, wbal-tv 11 news. >> a stalemate of another kind could paralyze shipping, for making a very difficult for goods to get into the area. port workers along the east coast could go on strike in just a few days. kim dacey joins us live from self baltimore with more on what it could mean for our area. >> ledgewood -- could be the biggest port strike along the eastern seaboard in 35 years. it would affect about 2000 workers in baltimore alone. about $55 billion of cargo a year goes in and the port and according to the port administration, 108,000 jobs linked to activities at the port. if negotiations between the maritime alliance and international longshoremen are not going well. unless an agreement is reached by midnight sunday, there would be a complete shutdown of all ports, from maine to texas. a report spokesperson said there is a possibility the strike would only be partial and would only affect cargo in containers because warranties for workers of that type of cargo is the big sticking point. that could avoid a stoppage of automobile ship
face this fight with a new congress, right? >> yeah. this would be another can-kicking exercise. it would also likely or possibly include any type of spending reform or tax reform to be continued through next year. adam: there's the president. rich, thank you. >> for the past couple of months i've been working with leaders of both parties to try and forge an agreement that would grow our economy and shrink the deficit. a balanced plan that would cut spending in a responsible way but also ask the wealthiest americans to pay a little more. and above all, protect our middle class and everybody who is striving to get into the middle class. i still want to get this done. it is the right thing to do for our families, four or businesses and for our entire economy but the hour for immediate action is here. it is now. we're now at the point where in just four days every american's tax rates are scheduled to go up by law. every american's paycheck will get consider bring smaller. and that would be the wrong thing to do for our economy. it would be bad for middle class families and it woul
cuts to the pentagon and other government programs. so, in march, we may see another round of fighting. president obama says he hopes congress can strike a deal with a little less drama. paula and john? >> don't count on it. >> let's hope so. round two of the spending cuts. what are the chances that republicans go along with raising the debt ceiling? i know they believe maybe they have a little leverage now? >> reporter: i feel like we've seen this movie before. republicans are going to have to vote for raising the debt ceiling. but they want deeper spending cuts and deficit reduction. and they'll probably get it. but it could be another ugly fight in two months. >> it's interesting that john boehner and paul ryan voted in favor yesterday, as well. interesting dynamic there. tahman bradley in washington. thank you, tahman. >>> and new york lawmakers are furious this morning after the house ditched a vote on billions of dollars of aide for victims of hurricane sandy. house gop leaders decided to wait for the new session of congress before taking the vote. new york republican peter king
delays large cuts to the pentagon and other government programs. >> so in march, we may see another round of fighting. president obama says he hopes congress can get a deal done with a little less drama. >> today is your last chance to visit the san francisco institution and best part, it is free. exploratorium has out grown its home. after today the exhibits will be packed up and moved to pier 15 on the embarcadero just right across from the abc7 studios. the exploratorium that opened in 1969 was one of first hands on science museums in the country. >>> cardinals have won the rose bowl for the first time in 40 years. they beat the badgers and running back taylor scored two touchdowns. stanford ends the season at 12-2 and victory helps the mayor win a friendly wager with the mayor of madison, wisconsin. he will have to wear a stanford cap at an upcoming city council meeting for a day and planted a tree in honor of the cardinals. wow! >> today, san jose valley christian high school band returns home after performing in the rose parade yesterday morning. they are the ones wearing blue. they
to keep another open. >> is it possible if congress does not respond adequately that they have to resort to their stock? >> that question is well put to the next panel in terms of how they would make the dollars that up. i know the mta has announced they will need to go out and have one out for additional debt just to cash flow the recovery until we can reimburse them. there is the risk of degradation to the public if they can't for example restore their stocks of spare equipment to keep the system up and running. >> some of our colleagues seem to think any attempt to rebuild transit systems with an eye towards mitigation and making them stronger for the future is a waste of money. what is your perspective? >> one thing that became clear in the after action look at this which gave rise to the president's request is we know now and indeed the operators on the ground have known for some time the we have the most critical components to keep the system is up and running in some of the most vulnerable areas. i think what those folks are saying when they say we shouldn't make mitigation invest
few days. while leaving one congress to go into another, this ought to be a priority and we ought to do it this week. >> congressman hoyer, couple of other questions for you. some house republicans oppose the sandy aid package saying it covered many unrelated items that have nothing to do with sandy, like repairing fisheries in alaska or repairing the smithsonian institution's roof in d.c. what do you say to them? did you personalitily work y p address any of those concerns? >> they were taken out. they wouldn't have been part of the legislation. they were taken out. that was not an issue. they were taken out of the bill. it was going to be offered on the floor without those provisions in there. we didn't argue about that. this is directly about people in the states of new jersey and new york and connecticut. new jersey and new york in particular, that saw their people ravaged and put out of their homes, put out of business, put to the -- trying to fend for food. that's what this is about. not about those other unrelated items that were taken out of the bill by the appropriations
. unfortunately, the fiscal cliff was designed specifically to force action because congress never would have made the difficult decisions if there were not a hard deadline and the debt ceiling provides another deadline so i don't think we should remove that from congressional authority. congress needs to have a say whether the debt ceiling is raised. this should not be policemen -- not be political leverage. >>neil: you are a decent man, congressman, with enormous integrity and hope springs eternal your d.n.a. is left in congress. thank you for your service and all you have done. >>guest: thank you, haunt new year. >>neil: ahead of the swearing in, and consideration of the new members, after the the vote last night, one member said no one should keep their job in congress. you are steaming mad. why? >>guest: look what happened. the freshmen congressmen are paid $180,000 a year! off of our back, off of america's back and we work until april 17 to pay all of the taxes and all of the spending these guys do and they do nothing. they do nothing to stop the real problem. they talk about taxes when taxe
.s. is also dangerously close to another less publicized cliff, the dairy cliff. congress has until tomorrow to replace or extend the expiring 2008 farm bill. otherwise, we revert to government price protection measures that date back to the '40s leaving you paying $7 a gallon or more for milk. amazingly the stock market didn't step off the "fiscal cliff" today. in fact, it surged on investor optimism that a deal would be reached. the dow closed out 2012 above the 13,000 mark. that's a 7% gain on the year. the nasdaq and the s&p also edged higher. >>> the u.s. state department is facing scathing criticism in a new senate report about the attack on the u.s. mission in benghazi. the senate homeland security committee is faulting the state department for keeping the u.s. mission in benghazi open despite a deteriorating security situation there. it also faulted the state department for waiting for specific warnings instead of improving security. >> we should have closed this facility in benghazi until we were prepared to provide the security necessary to give minimal protection, adequate protect
. if congress drops the ball before the ball drops this year, americans will have yet another reason to feel divided and frustrated with their leaders. we had the election and holidays. now the question is whether congress will make a new year's resolution to actually get things done. we have a great panel assembled here. i want to start with you, maggie. no one is dash optimistic. senators have to say that as opposed to admitting things don't look good as we just reported there are indications from at least a pew gop sources that there is this deal on the table. 400,000 at the tax level would not be very favorable to the president's so-called final offer. what do you make of it? >> i think that -- i make of it we are hitting hard deadline and i think all sides are aware this will be problematic for everybody. i think you can make the argument it will be worse for republicans long term than in the short term. markets will open on wednesday and it will be a mess. it will be a mess going forward. nobody wants this to continue. however, neither side will escape without blame if weaned up with t
to have another debate with congress with raising the debt ceiling. it's one thing to say that but it's another thing to make it happen, right? >> the way he negotiates is -- >> bill: to give away the store. >> yeah. >> bill: i think he will hang tough on this. because i think he learned his lesson the last time, but even if he does it doesn't mean the republicans are going to agree with it. >> i think there are numerous occasions where people say well obama learned his lesson last time, he won't do that this time. but we'll see what it means. >> bill: mark is calling from denver, colorado. happy new year. >> caller: thank you. i want to make a comment about the payroll tax which as i understand it is going to be going up. >> bill: it has already. >> yes, which is going to hit me immediately, because i am a paycheck to paycheck earner. meanwhile president obama caved on the 250,000 and up. like your show dearly bill, but how many times do you have to get burned before you say fire hurts? [ laughter ] >> bill: fair question mark. i just want to point out. i'm in goo
and higher taxes could trigger another recession, as consumers cut back on spending. others said the deadline is not as firm. congress could pass a temporary measure early in the new year doubled will back any changes. political analysts warn some consequences may be immediate. there may be a tremendous response from financial markets and the stock market. that would alarm everybody. stock prices are hearty dropping friday after a plan -- are already dropping after a plan. a poll shows nearly half of americans are doubtful the sides can settle their differences. >> taxes will go up and the 30 million households at least. that is something politicians will respond to it. >> house republican leaders called on the senate to pass two bills this it would avoid the as a booklet. republicans said the lines of communications are still open but the house will not react until the senate does. >> as we ring in the new year next week, maryland will enact new laws. some key provisions that go into effect on the first. >> about a dozen state laws will go into effect when the clock reaches midnight next tue
this. while i will negotiate over many things i will not have another debate with this congress whether or not they should pay the bills we have already wracked up. seems like he is not willing to entertain a fight over the debt ceiling bill. bill: do republicans trust the president's promise when he talks about spending cuts and really taking a hard look at those? >> reporter: bill, from several republicans i have spoken to seems they have this sense or learned to have this sense not to the pay too much attention to what the president says but to pay attention to what he does. listen to this remarkable statement from senator richard shelby on "fox and friends" a few short moments ago. >> i think that the president missed a great opportunity, one of leadership. he is just been reelected. he has four years left and this will be part of his legacy, the failure to step up and do the big thing when he could. he could have brought leadership to the table. he didn't. now he is wanting to talk about cutting spending? it is kind of a joke. >> reporter: some see this looming battle two months do
that kept even most members of congress in the dark. the white house and senate leaders have been trying to beat a deadline they created to stop massive tax increases and automatic spending cuts that could trigger another recession. but one breakthrough did come today. >> i can report that we've reached an agreement on all of the tax -- the tax issues. >> reporter: a genuine compromise on taxes. most notable, rates would go up for couples earning above $450,000 a year. and today the same for everyone else. but they are divided over how much and how soon to cut government spending. and people are frustrated. >> sometimes you wonder, is it all just for show, or, you know, what's really going on behind closed doors? >> reporter: come midnight, your takehome pay shrinks. income taxes go up for everyone. roughly $2,400 next year for a family making 50 to $75,000. the 2% payroll tax break ends, costing an average worker another $1,000 a year. higher taxes on savings and investments. families will pay more on large inheritances. and for those on hard times, out of a job longer than six months,
... and on time. &pcongress woulddhave toovott setting the stage for another - fight on capital hill. as we loseddout 2012 in baltimore... one number rings out... the murder count.theee were 216 homicides.... compaaed to 197 in all of 2011. 3ther'es no question... 20012 was more violent in the city of baltimore.paullgessler has more on how community leaderss are rememberiig the city's homicide victims. victims. ((eeding names)assbaltimore year...(names)commuuity leaders look back at the bloodshed of 20-12.(nnmee)216 readinggnames "floyd dorsey,, 559-that's my cousin-- michael violence... and part of tte city's rooing homicide rate. commissioner anthony atts,, baltimore city police:"too too many rothers, too many many people of color nd non-cclor losing their lives." daphne alsson,,mother of at them liie they're animals? whh do we think thhttthey were just bad people?"women like daphne alston come to this victim:"you could lose them in - a car accidenn, but it's the yoong hummn being. these kids have no respecttfor human llfe we've lost o violence on ttee streets are sons, daughters,
of february. those moves include suspending some benefit funds. congress must vote to raise the debt ceiling setting the stage for another fight on capitol hill. >>> some people wrapped up their 2012 by donating to charity. all day and night car after car dropped off in donations at the salvation army center in alexandria. many people got in a final big donation before the end of the year for tax purposes of course. others gave away their old things to make way for new stuff santa brought them. >> a tremendous turnout with donations. again, you know, the salvation army does a lot across all over the world so people feel comfortable coming here with their donations and we take good care of the stuff that they donate. >> the salvation army estimates some 1700 cars came by its alexandria center yesterday alone. i've been giving to goodwill the last couple of days to get rid of stuff, get in the tax donations and it's the right thing to do. >> that place is huge. just pull in. >> on this last day of the year, it is unbelievable. thank you. >>> hillary clinton, her blood clot is very close to her
. >> in the meantime, congress avoids taking the country over that fiscal cliff for now. and why your income taxes might not go up. another tax taken out of your paycheck will go up. what you need to know about your hike in your social security payroll tax. >> and later this hour keeping men just as healthy as women. a look at why men lag behind when it comes to staying fit and how you can work to fix that. >> something all of us want to do. >> absolutely right. >> tucker barnes joining us now. tucker is in a weather center. a man in tip top shape. >> if you take away the 8 oreo cookies i just ate. let's do weather for you. temperatures overnight have been falling here the last couple hours. going to be a chilly day for you. but we should see lots of afternoon sunshine. and after a couple cloudy days should feel good there. let's get to the numbers and right now at reagan national, we are running in the low 30s. here comes the sun. and again, we haven't seen it much. here are your temperatures. reagan national, temperature of 35. 32 at dulles and bwi marhsall. has been bringing us cloud cover and
again be on the bench. >>> and when we return, another look at this morning's top stories and dairy dilemma. families could see the milk prices skyrocket if congress doesn't act. . and dairy dilemma. milk prices will skyrocket if people don't react. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. ♪ many hot dogs are within you. try pepto-bismol to-go, it's the power of pepto, but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. hours.. can congress come to a compromise? the fiscal cliff showdown resumes with face-to-face negotiations.. muni celebrates a big milestone.. and they're givg all of us a gift!! and.. putin puts a stop to l u-s adoptions.. why?? plus meet one family who's gotten stuck in the middle this international dispute. join us for cbs 5 eyewitness news this morning..
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